Safestore updates guidance after Space Plus deal, shares on FTSE 250 radar
26.06.2026 - 14:18:11 | ad-hoc-news.de
By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-26, 14:17.
Safestore (GB00B1N7Z094) has updated its 2026 outlook and integration plans after closing the acquisition of the remaining stake in its Space Plus joint venture in Germany and the Netherlands, according to its June trading update and transaction documentation. The self?storage operator, which is a member of the FTSE 250 in London, also detailed revised development and pipeline metrics for the medium term.
What Safestore has just announced
Safestore reported on 25 June 2026 that it has completed the purchase of the remaining 80 percent of Space Plus, giving it full ownership of 41 stores across Germany and the Netherlands and lifting its total owned and operated store count above 210 locations in Europe, per the company’s transaction update. The Safestore investor relations page sets out the deal perimeter and store numbers. The group said the transaction supports its stated strategy of building a pan?European platform with a focus on freehold and long leasehold assets.
In the same communication Safestore reiterated its focus on cash-on-cash returns, stating that the Space Plus portfolio is expected to generate stabilised returns in line with its existing continental European estate, which delivered like?for?like revenue growth in the low?single?digit range in the first half of its 2025/26 financial year. The company added that early trading at recently opened German sites has been in line with expectations.
Friday focus on operations and strategy
Safestore’s move on Space Plus follows a series of development and partnership deals over recent years, including prior joint ventures in Spain and Germany, underlining management’s preference for capital?efficient expansion in markets with fragmented competition. Reuters has previously highlighted the group’s disciplined rollout of new capacity in continental Europe. In its latest update the group pointed to a pipeline of more than 25 projects, representing over 1.5 million square feet of additional maximum lettable area once fully developed.
The company’s medium?term strategy remains centred on increasing its share of the European self?storage market, which remains significantly less penetrated than the more mature US sector dominated by players such as Public Storage and Extra Space Storage. Safestore notes that its portfolio is balanced between the UK and continental Europe, with Germany, the Netherlands, Spain and Belgium as key growth markets, while maintaining a conservative balance sheet with loan?to?value kept within its targeted mid?30s percent range.
All news and analysis on the Safestore shares
Current and historical coverage, price data and background on Safestore’s London?listed shares are available in the dedicated topic section.
The product behind the stock
Safestore generates revenue by renting secure self?storage units of varying sizes to private and business customers on flexible terms, typically with monthly contracts and dynamic pricing. Its sites combine multi?floor storage buildings with digital access control, on?site staff, insurance add?ons and ancillary services such as packaging materials and van hire. The company positions its stores in urban and suburban locations with strong transport links and dense catchment areas, aiming to maximise occupancy and achievable rent per square foot.
Where the shares trade today
The Safestore shares (GB00B1N7Z094) most actively trade on the London Stock Exchange’s Main Market as part of the FTSE 250 index; on 2026-06-26 at 12:00 London time they changed hands at 8.31 pounds sterling, according to exchange data.
Safestore at a glance
- Company: Safestore Holdings plc
- ISIN: GB00B1N7Z094
- WKN: A0JKMZ
- Ticker: SAFE
- Trading venue: London Stock Exchange (Main Market), FTSE 250
- Price (as of 2026-06-26, 12:00): 8.31 GBP
- Market cap: 1.82 billion GBP (as of 2026-06-26)
- Sector / industry: Real Estate Investment Trusts (Self?Storage)
- Index membership: FTSE 250
- Next earnings date: 2026-09-10
Disclaimer: This article is for informational purposes only and does not constitute investment advice, an offer, or a recommendation to buy or sell any financial instrument. Investors should conduct their own research and consider their individual financial situation before making investment decisions.
